You’ve read it correctly, the headline says one currency, not a pair. Most frequently forex traders concentrate on one currency pair, however they miss a lot of trading positions on other pairs. There is a middle ground and it’s possible to focus on one currency of several pairs.
One Forex EA developers have decided to do that and made the GBPBOT. This bot works on the GBP currency and its pairs. The benefit that it provides might not be immediatelly plain, though. Of course, traders are used to trade the pairs, not single currencies (that doesn’t even sound correct), so why concentrate on one all of a sudden?
The answer can be found in the idea of relationship between different currency pairs. You see, the pairs where the same currency is concerned are related and behave in a similar fashion. That is to say, if one pair is trending, others that inculde the same currency could be trending as well. But that won’t be that clear so we use that relationship. And you can understand where it’s useful for currency trading robot creation.It is an additional variable that plays the part in profitability.